During his failed 1994 Senate race, Mitt Romney tried to reassure liberal Massachusetts voters that "I was an independent during the time of Reagan-Bush; I'm not trying to return to Reagan-Bush." Now, Reagan's ghost is getting his revenge. After Romney defended the carried interest exemption that allows him to pay a lower tax rate than […]

When it comes to the subject of taxes, virtually article of faith held dear by Republicans has been proven false. For example, it's not true that "tax cuts pay for themselves" or that they increase revenue. Now, two new studies cut right to the heart of the bogus conservative claim that slashing tax rates for […]

As Bill Clinton prepares to take center stage at the 2012 Democratic National Convention on Wednesday night, Republicans have mounted a blistering attack on the President's economic plan. His proposal, the GOP warned, was "class warfare" and a "job killer" which will "kill the current recovery and put us back in a recession" and still […]

The experience of the past three decades shows that for the GOP, there are only two certainties in life: debt and tax cuts. But you'd never know that watching the Republican National Convention, where a massive ticking debt clock and obvious falsehoods like "President Obama has doubled the national debt" nevertheless dominate the proceedings. Of […]

By every indication, Mitt and Ann Romney are completely committed and deeply dedicated to each other. Nevertheless, they really need to get their lines straight, especially on the subject of their mysterious tax returns. Last month, Mrs. Romney protested that "We give 10% of our income to our church every year. Do you think that […]

Last November, the New York Times ran a piece titled, "Building a Better Mitt Romney-Bot." Assessing the aloof and socially awkward Romney's stumbles during his first White House run, author Robert Draper explained, "His camp doesn't need to turn their guy into someone you'd have a beer with. They just need to eliminate the bugs […]

Mitt Romney may "love data", but he has a serious problem with math. He has simultaneously promised to (a) extend the Bush tax cuts and then slash all rates by an additional 20 percent and (b) keep Uncle Sam's total take "revenue-neutral" while (c) ensuring "that high-income people would continue to pay the same share […]

Cut taxes. Raise defense spending. Balance the budget. That, in a nutshell, is the promise of Mitt Romney's 162-page, 59 point economic plan. But if that refrain sounds hauntingly familiar, it should. After all, Ronald Reagan, George W. Bush and the leading lights of the Republican Party have been repackaging that same formula for over […]

Introducing his new running mate on Saturday, Republican presidential nominee Mitt Romney boasted, "We offer solutions that are bold, specific, and achievable." Number Two dutifully followed Number One, as Paul Ryan then promised voters, "We won't duck the tough issues...we will lead." Just not, it turns out, when it comes to the central premise of […]

The U.S. tax code may be difficult to grasp, but understanding the presidential candidates' plans for it doesn't have to be. President Obama wants to raise his own taxes, while Mitt Romney wants to dramatically reduce the already small slice he pays to Uncle Sam. Of course, that simplification doesn't shed light on just how […]